The Editorial Team |

Establish Operational Resilience in Financial Institutions

LAGOS (Capital Markets in Africa) – Historically, financial institutions focussed on internal business resilience management (i.e. business continuity plans and testing thereof) and this was generally enough to ensure operational resilience. However, mass protest actions, terrorism, social and/or political unrest, ailing national infrastructure, interconnectedness of financial systems, increase in denial of service attacks and increasing use of and/or reliance on third parties to support key operations are forcing financial institutions to change the way in…

Leveraging Digital Technology in African Financial Services

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LAGOS (Capital Markets in Africa) – Before technology was as accessible as it is today, cash and cards consisted the main ways to access finance on a mass scale. However today, in many of the African economies, most of the population still does not have the ability to open a bank account, due to the lack of the required source of revenue and the challenge with many Africans not having the necessary information to sign…

Nedbank Sees Asset Growth Expanding Slower Than S. African GDP

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JOHANNESBURG (Capital Markets in Africa) – Nedbank Group Ltd. forecast that interest-earning banking assets will increase at a rate below that of nominal growth in South Africa’s gross domestic product, after earlier predicting it will be in line with the economy’s expansion. The lender’s credit-loss ratio, which rose 6 basis points to 53 basis points, will also increase slightly above the level achieved in 2017 although it will remain below its 60-100 basis-point target range, Johannesburg-based…

Mozambique May Reject Eurobond Restructuring Plan, Exotix Says

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MAPUTO (Capital Markets in Africa) – Mozambique might reject a debt proposal from a key group of holders of the southeast African nation’s Eurobonds as the plan excludes two other loans the government wants to restructure, Exotix Capital said. The so-called Global Group of Mozambique’s Bondholders last week presented a counter-proposal to Mozambique that provided nearly $1 billion of cash-flow relief until 2023, when the $727 million Eurobond falls due. The plan would also provide the…

Rand Needn’t Worry South Africa’s Central Bank, Study Concludes

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JOHANNEBURG (Capital Markets in Africa) – Who’s afraid of a weaker rand? Not the South African Reserve Bank, according to a new study examining the pass-through of currency fluctuations to inflation. The authors set out to find out why the correlation between the exchange rate and price growth has weakened in the past two decades, which coincided with South Africa adopting an inflation-targeting policy. They conclude that the central bank’s credibility is the main determinant. “Improving monetary-policy…

Nigerian Central Bank `in the Mood for Tightening,’ Nnanna Says

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LAGOS (Capital Markets in Africa) – The Nigerian central bank is “in the mood” for tightening and will increase its main interest rate if inflation doesn’t slow, Deputy GovernorJoseph Nnanna said. “Every member of the Monetary Policy Committee is certain that the monetary policy rate should increase if inflationary pressures build up,” Nnanna said Monday, speaking on the sidelines of a conference in the resort city of Sharm El-Sheikh in Egypt. “Our intention is to ensure that the…

Bullet-Train Pledge, Splits Cost Zimbabwe Opposition in Vote

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HARARE (Capital Markets in Africa) – As Zimbabwean opposition leader Nelson Chamisa considers mounting a legal challenge to last week’s election results, he’s also counting the cost of fissures within his alliance and campaign pledges that made him appear out of touch with voters. Emmerson Mnangagwa’s victory in the parliamentary and presidential ballots has left Chamisa’s Movement for Democratic Change without enough seats to prevent the ruling Zimbabwe African National Front-Patriotic Front from changing the constitution. It’s…

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